19 State Attorneys General Unite Against “Madden Fix” Bills

The Madden issue is back in the news again. This is about the “Valid When Made” doctrine and a bill that is before Congress right now. The Protecting Consumers’ Access to Credit Act of 2017 (H.R. 3299) bill passed the House earlier this year with legislation designed to make it unlawful to change the rate of interest on certain loans after they have been sold or transferred to another party. Now, as the bill is pending in the Senate we hear that 19 State Attorneys General writing a complaint to Senate leaders opposing the bill. Source.